China vehicle production and sales decline 6.8% and 3.1% respectively in May  [ China ]

On June 11, the China Association of Automobile Manufacturers (CAAM) announced vehicle production and sales results for the month of May, 2021.
In May 2021, production and sales both experienced year-over-year (y/y) decreases. The passenger vehicle sector reflected slight y/y decreases in production and sales as it became harder for the sector to continue the y/y growth trend considering the rapid increases in production and sales in May 2020. However, luxury vehicles bucked the downward trend by achieving y/y increases in production and sales. With regard to commercial vehicles, trucks reflected a significant y/y decrease in production under a deadline impact because all trucks produced, sold, imported and registered after July 1, 2021 have to meet the China 6 emission standards. Buses underwent substantial y/y increases in production and sales in May due to the strong performance of the microbus market. Production and sales of new energy vehicles continued to reflect a positive trend in production and sales. Vehicle exports also performed well in May.
Overall vehicle production in May totaled 2.04 million units, reflecting a 6.8% y/y decrease, while sales totaled 2.128 million units, reflecting a 3.1% y/y decrease. Cumulative production and sales volumes of the period from January through May were 10.626 million units and 10.875 million units, up by 36.4% and 36.6% y/y respectively.
In May, passenger vehicle production and sales reached 1.617 million units and 1.646 million units, representing a 2.7% and 1.7% y/y decrease respectively. The passenger vehicle production for the January to May period totaled 8.285 million units, up by 39.1% y/y, while sales were 8.437 million units, up by 38.1% y/y.
Among commercial vehicles, production in May totaled 424,000 units, reflecting a 19.6% y/y decrease. Commercial vehicle sales were 482,000 units, reflecting a 7.4% y/y decrease. The period from January through May has recorded a total of 2.341 million units and 2.438 million units for commercial vehicle production and sales volumes respectively, reflecting a y/y increase of 27.8% and 31.9%.
In May, NEV production and sales both reached 217,000 units, reflecting a 150% and a 160% y/y increase respectively. Among NEVs, BEV (battery electric vehicle) production was 181,000 units, reflecting a 180% y/y increase, while sales were 179,000 units, reflecting a 170% y/y increase. PHV (plug-in hybrid vehicle) production was 36,000 units, reflecting a 67.8% y/y increase, while sales were 39,000 units, reflecting a 120% y/y increase. FCV (fuel cell vehicle) production and sales were 38 units and 9 units respectively, down by 41.5% and 90.0% y/y respectively. For the first five month in total, NEV production and sales volumes were 967,000 units and 950,000 units, both reflecting a 220% y/y increase. Among NEVs, BEV production and sales reached 818,000 units and 794,000 units, up by 260% and 250% y/y. PHV production and sales were 149,000 units and 156,000 units, up by 110% and 130% y/y. FCV production and sales were 188 units and 207 units, down by 47.3% and 44.1% y/y.
Overall vehicle exports in May reached 151,000 units, reflecting a 210% y/y increase. Passenger vehicle exports totaled 115,000 units, reflecting a 230% y/y increase, while commercial vehicle exports totaled 36,000 units, reflecting a 160% y/y increase. Total exports of the first five months in 2021 were 670,000 units, reflecting a 110% y/y increase. Cumulative passenger vehicle exports were 511,000 units, up by 110% y/y, while cumulative commercial vehicle exports were 158,000 units, up by 100% y/y.
(From a CAAM press release issued in June 2021)
(China’s monthly sales figures)

Vehicle sales data (flash report in May, 2021)

May 2021 Jan. – May 2021
Sales vol. (1,000 units) Share (%) Y/y (%) Sales vol. (1,000 units) Share (%) Y/y (%)
Sedan 778  36.6  0.1  3,919  36.0  37.2 
MPV 82  3.9  0.4  388  3.6  39.7 
SUV 748  35.2  -3.8  3,985  36.6  39.5 
Mini Van 38  1.8  -1.5  145  1.3  20.9 
PC Total 1,646  77.3  -1.7  8,437  77.6  38.1 
CV Total 482  22.7  -7.4  2,438  22.4  31.9 
Grand Total 2,128  100.0  -3.1  10,875  100.0  36.6 

Source: from the China Association of Automobile Manufacturers and other reports

Vehicle production data (flash report in May, 2021)

May 2021 Jan. – May 2021
Production vol. (1,000 units) Share (%) Y/y (%) Production vol. (1,000 units) Share (%) Y/y (%)
Sedan 774  37.9  -2.1  3,819  35.9  36.4 
MPV 78  3.8  -0.2  399  3.8  55.3 
SUV 719  35.2  -4.7  3,912  36.8  40.9 
Mini Van 44  2.2  17.6  155  1.5  25.1 
PC Total 1,617  79.3  -2.7  8,285  78.0  39.1 
CV Total 424  20.8  -19.6  2,341  22.0  27.8 
Grand Total 2,040  100.0  -6.8  10,626  100.0  36.4 

Source: from the China Association of Automobile Manufacturers and other reports

<Jun 15, 2021>